Tuesday, September 1, 2009

When buying real estate, it's usually women who make the final decision

It's been a crazy busy summer... work, company and then our house flooded... wow a lot of "non-fun" with that!
Working with buyers lately has been really fun. The biggest challenge is to come up with Plan A & B for purchasing that will ensure the buyer gets the lowest possible purchase price for the property they love.
One of my favorite clients recently decided to downsize. We sold their townhouse and started looking! Plan A was to find a couple properties that they loved and then, starting with the #1 choice, make an offer with the idea that if the seller didn't take it, we'd move to choice #2. We found 2 properties that would fit this plan. The were almost identical in price, amenities, condition, and location. One seller was very motivated and one was not motivated at all.
We sat and discussed the pros and cons. The husband had his heart set on one (super motivated seller), the wife another (not so motivated seller). We went back and forth with no decision on which to offer on. The husband's first choice was logistically the better one for them... had a family room for grandchildren, enough parking for 2 vehicles and, 2 bathrooms. They decided to sleep on it. The next morning I got the call... the wife won out the decision on which to make an offer on first... the not so motivated seller!
The next step was to carefully plan our strategy and offer just enough to entice the sellers but low enough to be a good deal. Everyone committed to walking away to choice #2 if the seller didn't bite. And away we went with our offer...
Tick tock tick tock tick tock
The seller doesn't bite. Back I got to the buyers to proceed with offering on choice #2. The wife however, has a different plan. She must have house #1.
In the end, they ended up paying more than they would have for the other very comparable unit... but they have the house they love.
Sometimes it's good to remember that it's not all about the best deal. If you really love something, it's not necessarily best to settle. The roof over your head is a home... the buyers are very happy! :)

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